Q&A: ASL
Oct 8, 2012
Rmb performance bonds on the rise: SocGen
As Chinese contractors win more bids to build infrastructure projects offshore, bankers at Societe Generale are detecting an uptick in performance bonds being issued in renminbi.
As more and more Chinese contractors have won bids to build infrastructure and telecom projects around the world, their host nations have gradually grown more accepting of receiving performance bonds (P-bond)—a guarantee of the performance of a contractor—denominated in renminbi, according to Societe Generale.
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